Download or read book International Trade Spillovers from Domestic COVID 19 Lockdowns written by Mr. Shekhar Aiyar and published by International Monetary Fund. This book was released on 2022-06-17 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: While standard demand factors perform well in predicting historical trade patterns, they fail conspicuously in 2020, when pandemic-specific factors played a key role above and beyond demand. Prediction errors from a multilateral import demand model in 2020 vary systematically with the health preparedness of trade partners, suggesting that pandemic-response policies have international spillovers. Bilateral product-level data covering about 95 percent of global goods trade reveals sizable negative international spillovers to trade from supply disruptions due to domestic lockdowns. These international spillovers accounted for up to 60 percent of the observed decline in trade in the early phase of the pandemic, but their effect was shortlived, concentrated among goods produced in key global value chains, and mitigated by the availability of remote working and the size of the fiscal response to the pandemic.
Download or read book Lockdown Spillovers written by Hongyi Chen and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Lockdowns imposed to fight the Covid-19 pandemic have cross-border effects. In this paper, we estimate the empirical magnitude of lockdown spillovers in a set of panel local projections. We use daily indicators of economic activity such as stock returns, effective exchange rates, NO2 emissions, mobility and maritime container trade. Lockdown shocks originating in the most important trading partners have a strong and significant adverse effect on economic activity in the home economy. For stock prices and exports, the spillovers can even be larger than the effect of domestic lockdown shocks. The results are robust with respect to alternative country weights used to construct foreign shocks, i.e. weights based on foreign direct investment or the connectedness through value chains. We find that lockdown spillovers have been par-ticularly strong during the first wave of the pandemic. Countries with a higher export share are particularly exposed to lockdown spillovers.
Download or read book Supply Spillovers During the Pandemic Evidence from High Frequency Shipping Data written by Diego A. Cerdeiro and published by INTERNATIONAL MONETARY FUND. This book was released on 2020-12-18 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: World trade contracted dramatically during the global economic crisis induced by the COVID-19 pandemic. Disruptions in international supply chains were widely reported as governments imposed containment measures (lockdowns) to halt the spread of the disease. At the same time, demand declined as households and firms scaled back spending. This paper attempts to disentangle the supply and demand channels in trade by quantifying the causal effect of supply spillovers from lockdowns. We utilize a novel dataset of daily bilateral seaborne trade, and design a shift-share identification strategy that leverages geography-induced cargo delivery lags to track the transmission of supply disruptions across space. We find strong but short-lived supply spillovers of lockdowns through international trade. Moreover, the evidence is suggestive of the downstream propagation of countries’ lockdowns through global supply chains.
Download or read book Cars in Europe Supply Chains and Spillovers During COVID 19 Times written by Vizhdan Boranova and published by International Monetary Fund. This book was released on 2022-01-14 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cars in Europe: Supply Chains and Spillovers during COVID-19 Times
Download or read book Spillover Animal Infections and the Next Human Pandemic written by David Quammen and published by W. W. Norton & Company. This book was released on 2012-10 with total page 591 pages. Available in PDF, EPUB and Kindle. Book excerpt: A masterpiece of science reporting that tracks the animal origins of emerginghuman diseases.
Download or read book We Are All in the Same Boat Cross Border Spillovers of Climate Risk through International Trade and Supply Chain written by Alan Feng and published by International Monetary Fund. This book was released on 2021-01-22 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are assets in a landlocked country subject to sea-level rise risk? In this paper, we study the cross-border spillovers of physical climate risks through international trade and supply chain linkages. As we base our findings on historical data between 1970 and 2018, we observe that globalization increased the similarity of countries’ global climate risk exposures. Exposures to foreign climatic disasters in major trade partner countries (both upstream and downstream) lower the home-country stock market valuation for the aggregate market and for the tradable sectors. We also find that exposures to foreign long-term climate change risks reduce the asset price valuations of the tradable sectors at home. Findings in this paper suggest that climate adaptation efforts in a country can have positive externalities on other countries’ macrofinancial performance and stability through international trade.
Download or read book The impacts of COVID 19 and policy responses in rural economies written by Food and Agriculture Organization of the United Nations and published by Food and Agriculture Organization of the United Nations. This book was released on 2023-01-19 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: The impacts of the COVID-19 pandemic and government policies to limit its spread are multi-faceted and complex. Market linkages transmit these impacts through economies, from directly affected actors to others in both the urban and rural spheres. Economic contexts, including the structure of local economies, shape the transmission of impacts on rural men and women. Because of this, the pandemic, lockdowns, and mitigation policies influence outcomes in complex ways. In most cases, the magnitudes and even the signs of impacts cannot be determined ex ante. In this study, we use multiple local economy-wide impact evaluation (LEWIE) models to estimate the impacts of the pandemic and lockdowns on rural producers and households in a diversity of economic and agro-climatic settings, using simulation methods. We also examine the likely effects of alternative migitation measures.
Download or read book Pandemic Related Financial Market Volatility Spillovers written by Shaen Corbet and published by . This book was released on 2020 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Utilising Chinese-developed data based on long-standing influenza indices and the more recently-developed coronavirus and face-mask indices, we set out to test for the presence of volatility spillovers from Chinese financial markets during the outbreak of the COVID-19 pandemic upon a broad number of traditional financial assets. Such indices are used to specifically measure the performance of Chinese companies who are inherently involved in the R&D and production of materials and products used to mitigate the effects of influenza and coronavirus, therefore, such indices present a unique barometer of investor sentiment relating to COVID-19 in comparison to traditional Chinese influenza. Within days of the formal announcement of the COVID-19 outbreak, results indicate exceptionally pronounced and persistent impacts of coronavirus on Chinese financial markets compared to that of the traditional and long-standing influenza index. Further, in a novel finding to date, COVID-19 is found to have had a substantial effect on directional spillovers upon the Bitcoin market. Cryptocurrency-based confidence appears to have been instigated through government-developed education schemes, which are identified as one possible explanation for our results, which are found to remain robust across methodological variation.
Download or read book The Song Of The Dodo written by David Quammen and published by Random House. This book was released on 2012-03-31 with total page 706 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why have island ecosystems always suffered such high rates of extinction? In our age, with all the world's landscapes, from Tasmania to the Amazon to Yellowstone, now being carved into island-like fragments by human activity, the implications of this question are more urgent than ever. Over the past eight years, David Quammen has followed the threads of island biogeography on a globe-encircling journey of discovery.
Download or read book IMF Research Perspective written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-22 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This issue of the IMF Research Perspective looks at the inter-connectedness of the world economic system and how diverse shocks can affect global supply chains. The articles in this issue track the way COVID-19 triggered disruptions in the supply chain and explains why trade networks are so difficult to disentangle. However, the pandemic is not the only event affecting global supply chains; cross-border spillovers of technology wars and natural disasters are other factors to consider. The overarching message from these articles is clear: there is a need for international cooperation to deal with the consequences of these shocks—whether it is ending the COVID-19 pandemic or mitigating climate change.
Download or read book Stock Price Dynamics of US REITs written by Nick Martin Trefz and published by Springer Nature. This book was released on 2023-01-01 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: By adopting the ‘REIT laboratory’ and incorporating REIT-specific Fama-French factors, Nick Martin Trefz builds the foundation to appropriately isolate the parameters of interest and to transparently investigate the areas of interest (Short Selling, Covid-19, and ESG) throughout the chapters in this book. He finds that short selling activity measured by short interest correlates with positive excess returns, and that low short interest portfolios have positive and statistically significant alphas. He further identifies that during the Covid-19 pandemic the sources of spillovers among US real estate sectors remain constant compared to before Covid-19. Lodging can be identified as a source of total return as well as tail risk, and Office can be considered a source of volatility. Lastly, he shows that ESG ratings do not affect returns during Covid-19. However, higher ESG ranked REITs show significantly lower volatility during Covid-19.
Download or read book Surviving Pandemics written by Meghana Ayyagari and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: What role do spillover effects play in firm resilience during crises? Using high-frequency data on over 7 million import transactions, we ask this question in the context of the large trade disruption faced by US importers in the months immediately following the initial COVID-19 shock. While US firms saw a reduction in imports due to Covid-related trade disruptions to their suppliers, these effects were lower for importers in counties that received greater loans under the Paycheck Protection Program (PPP), a government stimulus program aimed at small businesses. A one standard deviation increase in exposure to PPP reduces the effect of the supply shock faced by the firm by approximately one-fifth. These effects exist even when the importer is not a direct recipient of PPP loans. The effects are largest in counties with larger number of small suppliers and higher input-output industry linkages, and those with greater share of small and medium enterprises (SMEs). We also see similar effects of PPP preserving job growth at the county level even as the trade shock takes a negative toll on local employment. Our results point to local spillovers between SMEs that were PPP recipients and large importers as being an important determinant of firm resiliency during the pandemic.
Download or read book COVID 19 Pandemic and Global Inequality written by Rajib Bhattacharyya and published by Springer Nature. This book was released on 2023-11-11 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book intends to capture the most critical issue that has cropped up as an aftermath of the Corona pandemic- the phenomenon of widening of global inequalities across nations depending upon their economic position, support policies of the government and international relationship particularly in the context of alarming growth of unemployed in the labour market, business activity and social sector. This book is expected to provide new areas of research to both academicians and policy makers to re-think about global cooperation for bridging the inequalities for a better world. It tries to incorporate the valuable contribution of experts from various fields of knowledge in a consolidated volume. This text will be revised once the chapters are finalized and put together in structured themes. The table of content lists some of the chapters that have been confirmed, but there are more that are being invited by the editors.
Download or read book Economic and financial issues in the post covid 19 world Implications and role of public health written by Giray Gozgor and published by Frontiers Media SA. This book was released on 2023-02-13 with total page 451 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Reflections on the Complexities of the Covid 19 Pandemic written by Shadrack B. Ramokgadi and published by African Sun Media. This book was released on 2022-12-31 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers an original and timeous snapshot of contemporary lines of argument from various authors in the Global South on the Covid-19 pandemic as a complex emergency at the height of the pandemic. At the time of writing, there were various levels of uncertainties from different countries, citizens, the public and private sectors, industries and economies who were in disarray. The book traces the origins of the Covid-19 pandemic in the province of Wuhan in China, the challenges, and the responses from a multiplicity of countries particularly from the Global South. Of particular importance, the book notes that vaccine uncertainty, limiting the spread of the virus and loss of life and employment, were some of the major challenges that these governments and citizens were confronted with. Also, the sizes of various economies lead to various challenges that the abovementioned governments shouldered. The contributors shed light on various aspects related to the Covid-19 pandemic from various countries in the Global South and include, but were not limited to securitised lockdowns, the use of militaries and complete closures of national (and sometimes fragile) economies, as well as overburdened health systems. These are just some dire consequences of Covid-19 on the public and private sector, industries and economy. The book emphasises that despite myriad challenges reported, there are various lessons that can be learnt in terms of how the countries responded to the pandemic, and in terms of how future pandemics can be handled. Finally, this is an interesting piece of work wherein contributors, as a collective, seek to shed light with regards to the unique perspectives from the Global South and at the same time give some guidance, related to their specific areas of focus.
Download or read book Death and Mourning Processes in the Times of the Coronavirus Pandemic COVID 19 written by Lydia Gimenez-Llort and published by Frontiers Media SA. This book was released on 2022-05-05 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Finance Law and the Crisis of COVID 19 written by Nadia Mansour and published by Springer Nature. This book was released on 2022-02-18 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes the impact of Covid-19 in different areas such as corporate social responsibility and legislation in SMEs, insolvency law, behavioral finance, government interventions in markets, financial disclosure, the emergence of unregulated financial sectors, the increase of coronavirus-related crimes, and the development of banking regulations in the Covid-19 pandemic, among others. The coronavirus epidemic, which has spread throughout the world, has highlighted the inadequacies of the health and social systems of all states, even the most advanced. The health emergency has required extraordinary measures, especially at the level of laws that are essential for the preservation of lives, health, and livelihoods. The priority for governments and even the international community was, from the outset, to prevent infections and care for those affected. Such a strategy required an unusual increase in health spending, even though it exceeded the State's financial capacity and lacked fiscal space. In addition to this challenge, which has not yet been overcome, there is another, that of redressing the consequences of the measures taken (general containment). It should be pointed out that during health crises, the state may have to review the requirement for transparency because of the emergency, but not free itself from it. The urgency could never be an alibi for a violation of citizens' rights and freedoms. With urgency, financial management systems must be flexible and responsive to all occurrences, while ensuring optimal use of resources and minimizing the risks of fraud and corruption.
